Our Mortgage Adviser Christina met with clients William & Huong, first time buyers who had found their perfect new build property. Luckily for William & Huong, their parents had gifted them a small deposit but they were still a little short of what they needed.

With the Help to Buy London scheme, the government will give a 40% loan towards the purchase price. Existing and first time buyers with a repayment mortgage are eligible for this scheme, so long as it is not used for second home or buy to let purposes. In England, the value of the property you propose to buy must not exceed £600,000.

For first time buyers in London – like William and Huong – help to buy is an increasingly common way of acquiring a first time home buyer mortgage.

With this in place, we were able to submit a mortgage application and secure a mortgage offer in under 10 days.

“As first time buyers and using Help to Buy, we really didn’t know which way to turn.  The developers at the site we were buying from wanted us to use their on-site brokers.  However we done some research and decided to use a local broker.  We are so happy that we used Mortgage Scout, Christina guided us through the process and got us a mortgage offer really quickly.”